Industrial

StarPoint Properties Nears Completion of 157,473 SF Point Central Business Park in Denver

by Amy Works March 1, 2024

DENVER — StarPoint Properties is nearing completion of Point Central Business Park, a speculative industrial project situated on more than 9.5 acres in Denver. Commencing construction last summer, the park is scheduled for completion in the second quarter of this year. Located at 1051 E. 73 Ave., the 157,473-square-foot park features a 74,618-square-foot building and an 82,855-square-foot building. The development can accommodate occupier sizes ranging from 13,000 square feet to 157,000 square feet. Each building offers 2,358 square feet of high-end speculative office space, 2,000A/480V electrical and 32-foot clear heights. The park features 225 parking spaces, 27 dock-high truck doors (with the ability to add an additional 23 doors) and eight drive-in doors. Drew McManus, Bryan Fry and Ryan Searle of Cushman & Wakefield are marketing the property for lease.

March 1, 2024

Data Centers Development Industrial Office Texas Top Stories

Morales Capital Group Plans Redevelopment of 2.3 MSF Former Compaq Campus in Houston

by Jeff Shaw March 1, 2024

HOUSTON — Morales Capital Group, an affiliate of Mexcor International, has unveiled redevelopment plans for Viva Center, a 2.3 million-square-foot office and warehouse complex on a 66-acre site in Houston. The developer plans to revitalize the facility to support the research and development of liquid-cooled IT equipment for supercomputing. Eduardo Morales, CEO of Mexcor International and Morales Capital Group, says he envisions the newly rebranded Viva Center as “a transformative tech hub that seamlessly blends Houston’s rich history with futuristic innovations. With a focus on integrating cutting-edge infrastructure and next-gen application platforms, Viva Center aims to lead the charge in shaping Houston’s technological landscape for years to come.” Morales bought the property in 2022. The asset is part of a larger, sprawling, 300-acre campus that once served as the headquarters of Compaq, which was the largest home computer manufacturer of the 1990s. Fellow tech giant Hewlett-Packard bought Compaq in 2002 and has gradually sold off pieces of the campus, finally leaving the site entirely for a newly built, smaller building in the suburbs in 2022. For example, in 2009, Lone Star College purchased 1.2 million square feet of the property and turned it into a branch of the college. VivaVerse Solutions LLC will lead …

March 1, 2024

Arizona Industrial Market Reports Western Western Market Reports

The Infinite Potential of Nearshoring in Phoenix

by Jeff Shaw March 1, 2024

— By Anthony Lydon, Executive Managing Director, JLL — At $403 billion in annual gross domestic product, Arizona is now the nation’s 18th largest GDP economy, recently passing Minnesota and Indiana. With its expected growth over the next 24 months, the state is on track to become the nation’s 16th largest GDP economy, surpassing Tennessee and Maryland. Like a shortlist of other fortunate U.S. markets, Arizona can credit a portion of this growth to its thriving logistics sector. The potential that industrial real estate offers for nearshoring — that commanding force with the power to rapidly diversify and expand a local economy. In Arizona alone, every $1 spent in the logistics industry has a $2 to $2.50 “multiplier effect” in the categories of earnings, revenue and jobs. The ability to capture that growth has been transformed in recent years by the CHIPS Act. This has provided, among other things, a 25 percent tax credit for investing in facilities that manufacture semiconductors or related manufacturing equipment. The Inflation Reduction Act has also provided more than $270 million in tax credits for clean energy projects involving solar, wind, hydrogen, carbon sequestration and EV charging. These programs played a role in attracting TSMC, …

March 1, 2024

Acquisitions Industrial Texas

Younger Partners Arranges Sale of 58-Acre Industrial Development Site in Fort Worth

by Taylor Williams February 29, 2024

FORT WORTH, TEXAS — Locally based brokerage firm Younger Partners has arranged the sale of a 58-acre industrial development site in Fort Worth. The site at 5921 South Freeway is located on the city’s southwest side near the junction of Interstates 20 and 35. Carter Crow and Michael Ytem of Younger Partners represented the seller in the transaction. Justin Toon of Industrial Reserve represented the buyer, which plans to start construction in 2025. Both parties requested anonymity.

February 29, 2024

Cold-Storage-Innovation-Business-Park-Hutto

Development Industrial Texas

Titan, Sansone to Develop 208,560 SF Spec Cold Storage Facility in Hutto, Texas

by Taylor Williams February 29, 2024

HUTTO, TEXAS — A partnership between regional firm Titan Development and St. Louis-based Sansone Group will develop a 208,560-square-foot speculative cold storage facility in the northern Austin suburb of Hutto. The facility will be located within Titan’s Innovation Business Park and will feature 50-foot clear heights. Construction is slated to begin in the second quarter. CBRE and locally based brokerage firm AQUILA Commercial have been tapped as co-leasing agents for the facility.

February 29, 2024

Industrial Leasing Activity Texas

Colliers Negotiates 142,100 SF Industrial Lease in Metro Houston

by Taylor Williams February 29, 2024

CYPRESS, TEXAS — Colliers has negotiated a 142,100-square-foot industrial lease in the northwestern Houston suburb of Cypress. The tenant, 84 Lumber Co., will occupy the entirety of Barker Cypress Distribution Center. According to commercialsearch.com, the building sits on 12 acres and features 149 parking spaces and 3,574 square feet of office space. Wes Williams of Colliers and Conrad Bernard of Boyd Commercial represented the landlord, Molto Properties, in the lease negotiations. The tenant was self-represented.

February 29, 2024

Industrial Leasing Activity Texas

Preziosa Stone Signs 23,874 SF Industrial Lease in Northwest Dallas

by Taylor Williams February 29, 2024

DALLAS — Preziosa Stone has signed a 23,874-square-foot industrial lease in the Brookhollow neighborhood of northwest Dallas. The tenant is taking space at PROTO Park, a 250,000-square-foot industrial redevelopment by North Texas-based M2G Ventures. Sheenu George of KW Commercial represented the tenant in the lease negotiations. Sarah Ozanne and Lena Pierce of Stream Realty Partners represented M2G Ventures. The deal brings PROTO Park to full occupancy.

February 29, 2024

Acquisitions Industrial Texas

Partners Real Estate Brokers Sale of Industrial Flex Building in Houston

by Taylor Williams February 29, 2024

HOUSTON — Partners Real Estate has brokered the sale of an industrial flex building located at 3611 Gulf Freeway, just southeast of downtown Houston. According to LoopNet Inc., the property was constructed in 1969 and renovated in 2022. Travis Land, Cole Popper and Braedon Emde of Partners represented the seller in the transaction. Zachary Green of Chodrow Realty Advisors represented the buyer. Both parties requested anonymity.

February 29, 2024

Florida Industrial Leasing Activity Southeast

Glenstar Logistics Inks Three Industrial Leases Totaling 192,990 SF at Tri-County 75 in Fort Myers, Florida

by John Nelson February 29, 2024

FORT MYERS, FLA. — Glenstar Logistics has inked three new leases at Tri-County 75 industrial park in Fort Myers totaling 192,990 square feet. Located at 6115-6150 Tri-County Commerce Way, the park is situated at the southeast corner of I-75 and Luckett Road. The new tenants include a Fortune 500 beverage company (56,705 square feet); Orlando-based Mechanical One (67,620 square feet), a home repair and maintenance company; and NB Handy (68,665 square feet), a Virginia-based distributor of metals, HVAC, commercial roofing and machinery products. Bob Johnston of Lee & Associates arranged the three leases on behalf of ownership. Ben Kuykendall of First Capital Property Group Inc. represented Mechanical One in the lease negotiations, and Danny Holly and Shawn Stoneburner of Cushman & Wakefield represented NB Handy. Tri-County 75’s general contractor, The Conlan Co., will be building out spaces for all three tenants. Developed in partnership with Columnar Holdings, Tri-County 75 spans 816,866 square feet across four buildings. Other members of the design-build team include architect Ware Malcomb and civil engineer DeLisi Fitzgerald. The project was delivered in October and is now 64 percent leased. Another 215,000 square feet of space is expected to execute shortly at Tri-County 75 to two undisclosed …

February 29, 2024

Industrial Loans New York Northeast

Affinius Capital Provides $150M Loan for Refinancing of National Industrial Portfolio

by Taylor Williams February 29, 2024

NEW YORK CITY — Affinius Capital has provided a $150 million loan for the refinancing of a portfolio of six industrial properties totaling 1.8 million square feet. Though names and addresses were not disclosed, the properties are located in Atlanta, Dallas, Philadelphia, Charlotte, Louisville and South Florida and feature clear heights ranging from 24 to 36 feet. The borrower was Ares Management. The portfolio was roughly 40 percent occupied at the time of sale, although Affinius notes that “letters of intent are out on the majority of the remaining vacant space.”

February 29, 2024

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